Weekly News Bulletin - No. 01, September 2022

Digital transformation has been essential for the tourism sector in the post-COVID-19 period by optimising operations, cutting expenses, improving efficiency, and attracting more visitors. This new trend also means business efficiency, Chairman of the Vietnam Tourism Association Vu The Binh said, noting that as travellers switch to booking services online and companies do not act accordingly, they will be missing out.

According to the municipal Department of Statistics, the number of tourists visiting Hanoi in August reached 280,000, up 10.1% month-on-month and 8.2 times higher than that of the same period last year. In the first eight months of 2022, Hanoi welcomed 1.43 million holidaymakers, 2.2 times higher than the same period last year, completing the target set for the year. The capital city served 477,000 foreign arrivals in the January-August period; 3.9 times higher than the same period last year.

Binh Thuan Province begins construction of a 1,070ha industrial park. Prime Minister Pham Minh Chinh took part in the ground-breaking ceremony for Son My No.1 Industrial Park in the south-central province of Binh Thuan on August 30. The park, located in Ham Tan District, which is connected to key national routes, will cost approximately US524.2 million by the time it is finished in 2025. The multi-sector industrial park will focus on energy and electricity, building materials, electronics, information technology, etc.

Last week highlight

Ho Chi Minh city topped the country in foreign direct investment (FDI) in the first eight months of 2022, accounting for 16.1 percent of the national figure, according to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA). It successfully lured roughly US$2.71 billion worth of FDI during the period from January-August, an increase of 24.4 percent against the same period last year. The largest sum of FDI was poured into information and communications, followed by wholesale-retail, auto and motor maintenance and repair, science and technology, and finance, banking and insurance.

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Let’s look at some other key financial and business headlines during the past week

  1. Ministry reviews draft National Power Development Plan VIII
  2. Vietnam attracts nearly $17 billion in FDI in eight months
  3. Booming foreign investment to push Vietnam up value chain
  4. Newly established firms jump by recond in first eight months
  5. 8-month trade surplus nears 2021 total
  6. Tourism sector pushes digital transformation for future growth
  7. Eight-month revenue from retail, services up 19.3%
  8. Chinese wary of Vietnam's potential as new world factory
  9. Hanoi: Newly-established enterprises up 22% in eight months
  10. Binh Thuan Province begins construction of 1,000-ha industrial park